Asset Finance solutions for consumer and commercial loans

Pepper for the property investor

Real life loans for real people

Investing in property is an opportunity that could generate returns over time and play a significant role in helping to grow your wealth.

But if your credit history isn’t squeaky clean or your type of employment is a bit unconventional, or if your age and income don’t fit within a pre-determined criteria, you might find the traditional lenders starting to shake their heads. But that’s OK. Where some get caught up ticking boxes, Pepper Money takes a far more real life approach to finding you a workable solution.

It's all about being flexible

So you may have missed the odd phone bill. In real life it happens. Or you might make your living from slightly alternative means, and so what if you’re at the age where you’re nudging closer to retirement if you have sufficient ongoing income to service a loan.

Just because you might not fit the traditional lenders typical property investment borrower profile doesn’t mean you shouldn’t still be able to get a home loan. We assess your whole situation on its merits.

Deal with the decision maker

Finding the right investment property to give you the greatest returns is one thing. Getting approval for a home loan can be another. That’s why, if we’ve received the documents we need and provided they check out, we can give you a conditional approval within 24-48 hours.

You may also qualify for an interest-only loan – for up to 5 years. And on some loans, we can lend up to 95% of the property value. Most important of all, at Pepper Money, you get to deal direct with the person who is a decision maker and can give you an answer promptly.

Thinking that's outside the tick box

We understand that everyone’s situation is different. That’s why instead of simply ticking boxes, like most, we get a bigger picture of you. And we won’t make any notes on your credit file without your okay.

To paint that bigger picture, we begin with 4 things and fill in details around them the more we talk with you.

What you do – how you make a living, full-time, part-time, casual, or run your own business

What you own – your assets, do you own a home or investment property or have you saved a deposit?

What are your outgoings? – your liabilities, do you have a mortgage, car payments or credit card debt? Do you have a business debt or ATO debt? What are your living expenses?

What you missed – your credit history, do you have any defaults, missed loan repayments or missed bills?

Even if any of these things are complicated in any way, we’ll do our best to help. We get the level of thinking and planning in a venture like property investment so we keep things at our end as simple, streamlined and flexible as possible, to make sure the process doesn’t become a process.

How much would you like to borrow?

Get an estimate on how much you can possibly borrow with Pepper in a matter of minutes, based on your income and financial commitments.

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This calculator is to be used as a guide as to whether you may be able to borrow a certain amount only, based on the basic information you have provided. It does not provide you with formal approval for a loan and you should not enter commitments based on the result. If you need a formal approval, contact us now on 13 73 77 to discuss your needs.

How our product range may be able to help you

Pepper Essential

A simple home loan for borrowers with a clear credit history.

Pepper Easy

A balanced home loan for borrowers who haven't had a credit problem in the last 2 years.

Pepper Advantage

A real home loan for borrowers whose circumstances have made getting a loan challenging.

Popular questions...

What documentation is required?

For PAYG applicants we require two current payslips plus one of the following:

Most recent group certificate

Most recent tax return / taxation notice

Current letter of employment

Bank statements – to confirm last 3 months salary credits

For Self-Employed applications we need your last two years Financial Statements and Certified Tax Returns + Tax Assessment Notice. If you are self-employed and unable to provide the above documentation, you may still qualify for an alternative documentation (alt doc) loan such as, a completed 'Self-Employed Declaration of Financial Position'; plus one of the following options:

6 months Business Bank Statements

6 months Business Activity Statements (BAS) or

Pepper Accountant’s Letter (only available for use on select products).

How much deposit do I need?

At Pepper Money we can finance home purchases of up to 95% LVR (subject to the loan meeting our eligibility criteria), which means you can start to look at buying once you have saved around 5% of the purchase price. However, we recommend working towards 10% as an ideal target.

The reason for the suggested 10% target is that when saving for your deposit it is really important to factor the additional costs you will need to cover when you are taking out a loan, including:

Establishment and risk fees such as mortgage insurance (generally these are up to 2% of the amount being borrowed)

Conveyancing and legal costs

Government fees including stamp duty (amounts vary based on State and other factors)

Title search and registration fees

Pest and building inspections

Home building insurance prior to settlement

If you’re interested in seeing how much you may be able to borrow for a home loan you can check out our calculator here

What are the rates and fees?

Rates refers to the interest rate, being the amount of interest you pay on your loan amount. Fees are the fees and charges that you pay for establishment and ongoing administration of your loan account.

The interest rate you will qualify for is based on a range of different factors, including: The amount you need to borrow against the property value, known as the loan-to-value ratio (LVR) and the size of your deposit, whether the loan is to purchase an owner-occupied property or investment property, or if you have had any past credit issues.

Click here to learn more about our home loan product options. At Pepper Money we offer a range of interest rates, depending on your individual circumstances. To get an indicative interest rate, please call 13 73 77 and speak with one of our lending specialists.

How long is the application process?

Your Pepper Money Home Loan Journey can take up to six weeks – this is the typical timeframe for a home purchase, however, we can help turn this around in closer to three weeks if you are ready to go with all the necessary supporting documentation.

To learn more about Pepper Money Home Loan application process, click here.

*Interest Rates start from this amount, are correct as at 6 July 2018 and subject to change at any time. The actual interest rate applicable will depend on the individual borrower's circumstances. All Comparison Rates are calculated based on a secured loan of $150,000 over a 25 year term. WARNING: this comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.